Notarial Bonds: Securing debt in times of uncertainty

By Pierre van der merwe and Simone jansen van rensburg 1. Introduction A creditor is often faced with the decision of what form of security for the due and proper performance by the debtor of its obligations under, for example, a loan agreement, would be most beneficial to the creditor. Common forms of security include
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The authority of close corporation members to bind a close corporation in respect of immovable property transactions

INTRODUCTION The purpose of this article is to discuss the extent to which members of a Close Corporation (“CC”) have authority to bind the CC generally and specifically with regard to immovable property transactions. HISTORY CC’s are regulated and governed by the Close Corporations Act, 69 of 1984 (as amended) (“the Act“), together with any
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The Ins and Outs of the Assets that may be Secured in Notarial Bonds

By Pierre van der Merwe, Partner & Notary Publicand Simone Jansen van Rensburg, Associate & Notary Public 1. Introduction Commonly, creditors need to decide on the method in which to obtain the best security for the due and proper performance by the debtor of its obligations under, for example, a loan agreement. Often, creditors decide
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Coronavirus disease (COVID -19) and the Workplace: Implications for the Employer and Employee

INTRODUCTION Due to the rapidly increasing rate of infection of the coronavirus (COVID – 19) globally and within South Africa, employers across the country are faced with various health and safety implications in the workplace. This article aims to address certain issues and concerns that both employers and employees may have arising from COVID-19. What
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Playboy Club London Ltd and others v Banca Nazionale del Lavoro SpA [2018] UKSC 43 (26 July 2018)

SUMMARY The Playboy Club London Ltd (the “First Claimant”) operated a casino based in London and offered cheque cashing facilities to its customers for the purpose of purchasing gambling chips. Mr. Hassan Barakat (“Barakat”), a Lebanese resident and well-known figure at a casino in Lebanon, was desirous of gambling at the First Claimant’s casino. The
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Pick n Pay Retailers (Pty) Ltd v Pine Valley Supermarket (Pty) Ltd (8209/2014) [2015] ZAKZDHC 27 (20 March 2015)

BACKGROUND Pick n Pay Retailers (Pty) Ltd (the “Applicant”) launched an urgent application to perfect its security in of the form of a general notarial bond (“the Bond”) held in favour of Pine Valley Supermarket (Pty) Ltd (the “Respondent”). The Applicant sought to perfect its security as a result of the Respondent’s failure to effect
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HAS THE LEGAL PRACTISE ACT (No. 28 OF 2014) EXTENDED THE JURISDICTION OF ATTORNEYS TO SIGN PLEADINGS IN DIVISIONS OTHER THAN THE DIVISION IN WHICH THE ATTORNEYS WERE ENROLLED?

INTRODUCTION The attorney’s profession has well-established rules and practices that have been developed and observed over several years. One such rule is that an attorney with right of appearance could only practise in the division in which he/she has been enrolled (“Rule”). However, the commencement of the Legal Practise Act No. 28 of 2014 (“LPA”)
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The Ins and Outs of the Assets that may be Secured in Notarial Bonds

INTRODUCTION Commonly, creditors need to decide on the method in which to obtain the best security for the due and proper performance by the debtor of its obligations under, for example, a loan agreement. Often, creditors decide on a special and general notarial bond which provides the best possible security in one document without incurring
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Marais and 56 Others v Shiva Uranium (Pty) Ltd (In Business Rescue) and Others (J3049/18) [2018] ZALCJHB 346; (2019) 40 ILJ 177 (LC); [2019] 5 BLLR 472 (LC) (5 October 2018)

SUMMARY Marais and 56 Others (“Applicants”) were the employees of Shiva Uranium (Pty) Ltd (“First Respondent”) and brought an urgent application in the Labour Court seeking leave to institute legal proceedings against the First Respondent, the employer, which was placed in business rescue on 19 February 2018, in terms of section 113 (1)(b) of the
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Eskom Holdings SOC Limited v Masinda (1225/2018) [2019] ZASCA 98 (18 June 2019)

SUMMARY The Appellant, Eskom Holdings SOC Limited (hereinafter “Eskom”) sought an order from the Supreme Court of Appeal, determining whether the Respondent, Ms Masinda (hereinafter “Masinda”) was entitled to a spoliation order due to the disconnection of the electricity supply to Masinda’s immovable property in the Eastern Cape. Court a quoAs a result of the
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